The price cap to be imposed on Russian oil to punish Moscow for its invasion of Ukraine is expected to be around half the current purchase price, Japanese Prime Minister Fumio Kishida said Sunday.
Referring to a joint communique released after a summit of the Group of Seven developed nations late last month, Kishida said during a stump speech in Tokyo that a mechanism would be designed so that Russian oil “will not and cannot be bought at a higher price” than the cap.
The communique said an oil price cap scheme could include options such as enabling transportation of Russian seaborne crude oil and petroleum products globally only if the oil is purchased at or below a specified price.
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Japanese Prime Minister Kishida Fumio has said the Group of Seven nations should further strengthen their unity to protect the lives of people affected by soaring prices amid Russia’s invasion of Ukraine.
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A Japanese woman living in Belgium has become the mayor of Suginami, a district in Tokyo after she gained prominence through her online campaigning during the pandemic.
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Campaigning for Japan’s upper house election kicked off with Prime Minister Fumio Kishida fighting off criticism of the ultra-loose monetary policy he continues to support despite worries that it’s accelerating price increases.
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The Japanese government has kept its overall assessment of the economy unchanged for the third straight month. Officials say there are signs of an upturn, but called for caution against rising raw material prices amid the prolonged conflict in Ukraine.
Lower house speaker Hosoda sues publisher over sexual scandal
Japan Today – Jun 19
Japan’s House of Representatives Speaker Hiroyuki Hosoda on Friday filed a damages suit against the publisher of a popular weekly magazine that recently ran reports about his alleged sexual harassment of female reporters, according to his lawyer.
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